New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-12-14
HARPER's CHICAGO TRANSACTIONS.
TIE STORY OF ME OF HIS DEALS AND HOW y
TREATED HIS FHIENps.

TIE STORY OF ) ME OF HIS DEALS AND HOW HE
TREATED HIS FRIENDS
Chicago, Dec Is Special.-An evening paper gives a
history OF Harpcr's deals" on the Chicago Board OF
Trade an gives facts h.hOrto unpublished Harper,
first deal OF any consequences the chicago Board
$50. whom made dasa at PORK thr"nss the nrm
OF Howard. Eckert Co.. aftcrwsrd Wiltshire. Eekert &
90. Oa this occasion he scsopsd ia large pot
Of money. probably S2OOOlO He was then tnirty-t
years old In the fall OF lssl he began buying wheat
through W. McIIenry 90. lie bought steadily from
81 to 92 cents and when tie contracts maurcd on May
! lie took the wheat. between 100000 and 3OOoOOo
bushels and paid for IT, At that tno he had hand
prsn IN the deal as the price ON ~ was 81 02
QSl o.
In the following june he turned up a. the representa-
tive Of Cincinnati syndicate. composed Of him
self. George Wiltshire. president OF tie
Third National Bank; Joe" ". Wiltshire,
Cha,fed & Woods. paper manufacturers. and Truman
b. Handy Zach OF these parties. Cha'asi4 & Wood.
being cousi erci had nfth inrrc't Ia the srnd
cate. Tney built corner IIarpers cash wheat.
and the deal eliminated In tho famous August corner
known ~ tho Handy corner" Wheat wa, advanced
to 81 81 which the bid price on tho last day oi
August I-s2 The syndicate cleared up s2.oOO.0Op on
the de Al. Harper admitted that ou Ills sar'r dslI ana
on It's continuation syndicate deal hr had cleared
-7sOOOO net Iao price o wis.t beokc 10 u ~ when
the .yndclio let 20. began 10 advance immediately
At 81 - Iarpsr took the side In orlcr 20 make
my winnings an even S-OOOJO.' As ho put H. Handy
had quarrsllcd win Harper IN settling up ueir
trade and would have ush.as To- de with
him. The others probably went wi'h Harper, though
the fact could be proved. At any rate. Harper
"short.d" mlrk-t fr,n 81 - TO II 40 bis lac as
ercgatns about G.OJOOOJ bu-nsl%
lie hal put up something Ike sJDODOo n tse shape of
margins and McHcury d Preston, VINO had IA tho
meant me consolidated IN one irn, had advanced Out o
their own funds about S3OpOJp They had paid Harper
and his associates neary s2ODJ.OO IN profits month
D IT. cottfIfe non
the market reached - ~ Pre,tsa Mccnry began 10
grow sI. picous and they made per-Dpiory demand
for additional margins Harper who hAd sront most OF
the sprimg. summon au1 fl IN Chicago personally d.
recting mis- deals proicd faithfully to have tho m'noy
here I'm TIVE three days The Monday mOrHiaS Sfier
tho Garfield funeral wheat opened At ~ II al AZ and.
no money having arrived. Preston x Molieary began
bnyiug in the G.OOO,OOO bushels Of short wheat
for Iarpos account. the price climbed TO II - at
which 10 Mt came the crash Preston Mcilonfy went
to the wall and Harper so1binsy informed them that
he was heartbrOken h- inability to do anything Tor
them though confcssedy worth more thar SlOOOouo at
the time and having 100000 III prohts on previous
dc, LETT untouched Pro.toa died Ia two three years
OF broken heart having lost - whOir fortune on account
Of HarpcI's dupcity and MciIeary was Ioft T-Voooo
or 100000 worse oil than nothing
There Is a feature Of the lasc summers deal
that has never been published, aud that IL tho at
tempt made b. Harper TO quit the dc"
I'm June get big profit and lolyc Wiltshire, Ech.rt CO..
g. j. kershaw a Coz and losencld o. 1. hold th" haE
III, deal had arms. He operated through HoJt
and tDc other through MehIs. Ii0yt traded ihrsush
Irwin Green 4 60 and {. j. kersnaw q Co, aud VIII
shire through kershIW and RoSenicld lie hid ABOUT
; 900 900 piOnt the lIOyt end 81 the deal kefsna"
was pressing hia fer mdrgin', ana ho hteatrhcd 10
transfer his trades through kcrshaw To another h"'se
One day about days before the cra'h kcrsid" re
ccyrd orders transfer trddes about lO,OOO.OVo
bushels In all 10 Ko-onisd Co., clear up The deal ana
turn the profits Oycr To iiolL %,
V.ry we'll" sad kershaw. "deposit 10 my credit
81 900 900 to secure the trades nave Tor account
of W,l-hlrs & pyt the hopr, aud VIII turn over
The trades" This curt answer blocked Iarpcr's game,
and keI-haws stand the trade may congraiultc liSr
os being lust - 900 900 better oil ihin II Wphh 10 u ne
mad fol awed Instructions. IL lIarprrs purpo" 10
pull out the ~ 100000 through leyt and leave oFoJ
body else ia the hOIc, II IL should deyelope thhl Ne
deal csulI not be carried tarough.